Investors with a short-term horizon can buy the stock of Aditya Birla Fashion and Retail at current levels. Following a corrective short-term downtrend in the month of March and April this year, the stock found support at ₹163 in late April. The stock took support in the band between ₹160 and ₹165 in April and continued to trend upwards. Since then, the stock has been in a short-term uptrend. While trending up, the stock surpassed the 21- and 50-day moving averages in late May and it trades well above these moving averages.

On Tuesday, the stock took support at ₹200 and bounced up, gaining 5.7 per cent with good volume. This up-move has surpassed a near-term resistance at ₹208 and has reinforced the bullish momentum. The daily relative strength index has re-entered the bullish zone from the neutral region and the weekly RSI continues to feature in the bullish zone. Besides, the daily and the weekly price rate of change indicators hover in the positive terrain implying buying interest.

Overall, the short-term outlook is bullish. The stock can trend upwards and reach the price targets of ₹222 and ₹226 in the coming trading sessions. Traders can buy the stock with a stop-loss ₹208 levels.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading)